Was it the Swiss Banking that said...?

I saw it. Apparently the US is seeking the names of over 50,000 people that they suspect of dodging taxes. The big news that one of the banks was that one of the banks has turned over 250 names.

Since the Swiss economy is dependant on banking it is causing problems. Shares in a couple of the banks have already dropped bigtime. The fear is that US citizens will shift billions out of the banks. Other European countries are looking into taking the same action as the US under some kind of international treaty.

I can't remember where I read it but something like a third of the money stashed in tax havens in the world is in Swiss banks.

They already took a hit before with the whole resisting releasing the names of Jews who had deposited money around WW2 and never claimed it. They were keeping the money for themselves.

Yes.... it should be interesting later when on the news some guy turns out to owe the IRS millions in taxes and interest. Someone is going to be the first poster boy for tax evasion. Since millions have probably been spent already in order to get the names they are going to slay somebody. I suspect that the Swiss bank gave up names of people who are the little fish.

What I find interesting is when they have busted the super rich for taxes or some kind of investing fraud. You would think if you had say 250 million in ill gotten gains you would be smart enough to have an exit plan....... different passport, stashed money and say a house on a beach in some third world country.

I did see some story about that, but people have been using Swiss banks in that way for years.